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You may not know that you can refinance with fixed rate mortgages with terms ranging from five to more than 40 years - not just the popular 30-year and 15-year refinances. One such “oddball” refinance loan is the 10-year fixed mortgage loan. What Is It? The 10-year fixed refinance takes just ten years…

So you’re ready to take on a new mortgage and you’ve done your research. You have been educating yourself about credit scores, the credit process and how lenders evaluate credit for mortgage loan applications as you are getting ready to purchase a new home. And you know understanding your FICO® Scores is really important as they are the credit scores most commonly used in the…

If you re ready to buy a home, we’re ready to help! Call us today at 1-800-382-HOME (4663) One of the biggest obstacles to owning a home is the amount of funds a borrower must have for downpayment and closing costs. To help applicants overcome this obstacle, SONYMA offers homebuyers down payment assistance in conjunction with SONYMA financing. Please read below for details…

Funds are available. The Housing Trust’s first-time homebuyer loans vary by income eligibility based on one’s household income and size, maximum loan amount and repayment terms. Since 2001, 40% of all loans have been made to low-income families with the remainder going to moderate-income families. Only one Housing Trust Loan Program can be utilized per transaction. Each program…

Energy mortgages basically fall into 2 main categories: energy efficient mortgages (EEM) and energy improvement mortgages (EIM). The differences between these 2 types of energy mortgages are as follows: Energy Efficient Mortgage An energy efficient mortgage enables homebuyers to finance and include cost-effective energy saving measures as part of their mortgage. They are used…

While voters flock to the polls today to cast their ballots for the next president, mortgage rates inched up ever so slightly. Thirty-year fixed rates stayed the same again, but 15-year fixed loans and 5/1 ARM rates both increased by one basis point on Tuesday, according to a NerdWallet survey of mortgage rates published by national lenders this morning. Fannie Mae: Consumers…

Fannie Mae headquarters is seen in Washington November 7, 2013. REUTERS/Gary Cameron NEW YORK (Reuters) – Fannie Mae said on Monday it has launched a program to streamline its underwriting on mortgages for some borrowers that uses electronic data instead of physical proof of their income, assets and employment. The U.S. government mortgage agency said the “Day 1 Certainty”…

With more than 100 million fans expected to tune in to watch Super Bowl 50 on TV, and attendees paying thousands of dollars to be at the game in Santa Clara, California, on Sunday, all the excitement puts a spotlight on football’s status as a mega-business — a $45-billion-a-year one. While big games and winning seasons are emotional highs for die-hard fans, they are monetary…

The continually changing mortgage market often creates a confusing spectrum of choices for borrowers. By acquiring a general understanding of the types of mortgage products available and the advantages found in each, the consumer gains the ability to choose the best option. One of the most popular types of financing is the 20 year fixed mortgage, available from a variety of…